The town shall keep proper books of records and accounts, separate from all of its other records and accounts, in which complete and correct entries shall be made showing all revenues collected from the waterworks and all disbursements made on account of the system, also all transactions relating to the system. All revenues derived from the operation of the waterworks system and from the collection of water rates and charges shall be segregated and kept separate and apart from all other funds and bank accounts of the town. No monies derived from the revenues of the waterworks system shall be transferred to the General Fund of the town or be used for any purpose not connected with the waterworks system.
(Prior Code, § 8:1:03) (Ord. 78-W-101, passed 2-1-1978; Ord. 78-W-104, passed 5-19-1978; Ord. 1982-01, passed 1-20-1982; Ord. 82-45, passed 5-4-1983; Ord. passed 5-1-1969; Ord. 86-2, passed 6-18-1986; Ord. 86-3, passed 11-5-1986; Ord. 92-04, passed 12-2-1992; Ord. 94-02, passed 6-15-1994; Ord. 2005-7, passed 8-15-2005)